Montana Real Estate Salesperson Exam — All Questions
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1 questions
Real Estate Practice in Montana
When a Montana salesperson receives an earnest-money deposit, the funds must be:
- a.Delivered promptly to the supervising broker to be held in the broker's trust account✓
- b.Deposited into the salesperson's personal account
- c.Held in cash by the salesperson until closing
- d.Sent directly to the Board of Realty Regulation
Earnest money and other client funds must be handled through the supervising broker's trust (escrow) account. A salesperson who receives funds must deliver them promptly to the broker, who must keep trust money separate from personal and business funds. Mishandling trust money is one of the most serious violations of Montana license law.